Local banks's offshore yuan lending surges 119%, with declining of bad loans

By Leng Cheng | March 29, 2016, Tuesday |

Online Edition

OFFSHORE yuan lending business of Shanghai banks surged 119 percent year on year to 66.1 billion yuan (US$10.2 billion) in 2015, while bad loans and bad loan ratio declined, Shanghai's banking regulator said today, as the financial reforms prompt cross border business and post challenge on lenders' ongoing ability to control the risks amid economic downturn.

"The expansion of offshore business was a payoff of city's pushing forward of the pilot Free Trade Zone and the building of international innovation and technology center," Liao Min, head of the Shanghai Bureau of the China Banking Regulatory Commission told at a media conference with other municipal financial regulators in Shanghai today.

The bad loan ratio declined to 0.87 percent by the end of February among Shanghai's banking sector, Liao said. That compares to the figure of 0.91 percent by December and an average ratio of 1.67 percent among lenders countrywide.

Assets under management reached 12.98 trillion yuan of Shanghai banks by the end of 2015, almost two times as the scale as it's five years ago.

Liao said the major task during the 13th Five-Year Plan starting 2016 remains in supporting the real economy on liquidity as well as the management of systemic and regional risks.

"Shanghai's banking regulator will keep the risk management tight and strengthen precautions on fundraising business, bill financing and commercial property services," Liao said.

Liao said no bank employees in Shanghai have got involved in illegal fundraising cases last year.

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Local banks's offshore yuan lending surges 119%, with declining of bad loans

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